Tata Motors said on Friday it would increase prices on some of its passenger and utility vehicles due to mounting input costs. The increase in prices will be effective April 1, the company said in a statement.
“Despite continuous cost control initiatives, the company is being forced to take these increases on account of (a) steep rise in input costs,” the company said.
Car sales in India hit a record high in February, driven by a burgeoning middle class and easier access to loans, but a hike in interest rates and a jump in input costs due to higher global commodity prices remain concerns for the sector.
Earlier this week, the company said its global vehicle sales rose 14 percent in February to 102,411 units.
- Tata Indica price will be increased by up to Rs. 9,000/-
- Tata Indica Vista and Indigo CS prices will be increased by up to Rs. 11,000/-
- Tata Indigo Manza prices will be increased by up to Rs. 15,000/-
- Tata Venture MPV Prices will increase by up to Rs. 12,000/-
- Tata Sumo Prices will be hiked by up to Rs. 15,000/-
- Tata Sumo Grande Prices will go high up to Rs. 19,000/-
- Tata Safari SUV prices will go up by up to Rs. 29,000/-
- Tata Aria Crossover Prices will go high by up to Rs. 36,000/-
The company is being forced to take these increases on account of steep rise in input costs. So if you are planning to buy a Tata Car, watch out for a booking before 1st April 2011, else you may have to bear an extra hole in the pocket!